25 November 2022 | Other

Canada to invest C$1.6 billion in climate change adaptation strategy

Canada on Thursday released its first-ever national climate change adaptation strategy, which includes C$1.6 billion ($1.2 billion) in new federal funding commitments aimed at protecting people from the growing effects of global warming.

Canada, like many other countries around the world, is experiencing an increase in extreme weather due to climate change. The government predicts that average annual losses from natural disasters will reach C$15.4 billion by 2030.

According to government officials, the goal of developing an adaptation strategy is to reduce damage through federal policies and investments. Studies show that every dollar allocated to adaptation measures saves up to C$15 dollars in costs, which include both direct and indirect benefits to the entire economy, the government said.

Federal Environment Minister Steven Guilbeau stressed in a statement that we have to start fighting climate change soon. Not only do we need to reduce the emissions that are causing the climate change now, but we also need to adapt to the coming changes.

Canada is the world's fourth largest oil producer and the second largest carbon dioxide emitter per capita among the G20 countries.

Company MarketCheese
Period: 14.05.2025 Expectation: 1650 pips
Technical and fundamental background supports AUDCAD
07 May 2025 79
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 08.05.2025 Expectation: 550 pips
EURUSD to drop to 1.13000
07 May 2025 56
Period: 13.05.2025 Expectation: 240 pips
Brent crude price rebound to continue up to 65
07 May 2025 71
Period: 14.05.2025 Expectation: 1000 pips
Buying GBPUSD amid trade talks and weaker dollar with target at 1.344
07 May 2025 35
Period: 12.05.2025 Expectation: 1500 pips
USDJPY rebound fades ahead of Fed meeting
06 May 2025 71
Period: 30.05.2025 Expectation: 975 pips
Natural gas maintains upside potential within megaphone pattern
06 May 2025 76
Go to forecasts